PGIM Real Estate has acquired a property north of Munich, suitable for data center development, on behalf of its closed-end value-added fund European Value Partners (EVP) II.
The property is located in Unterschleissheim, in the Greater Munich area, between the city of Munich and Munich airport. A power supply of 30 megavolt-amperes has been secured during the acquisition process.
“Strong and surging demand for data centers, combined with low supply and limited development opportunities in urban areas translate into a very attractive investment opportunity for long-term investors,” said Nabil Mabed, senior portfolio manager for European Value Partner. “Data creation, and thus global demand for data centers, is expected to grow by a yearly average of roughly 30 percent to more than 2,100 zettabytes in 2035, not least due to ongoing digitalization efforts and recent developments in artificial intelligence.”
Munich, Germany’s third-largest city, is home to
